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Several MoUs signed on EGYPS 2020 second day

Several MoUs signed on EGYPS 2020 second day
Egypt and Somalia agreed to enhance cooperation in the petroleum industry

Cairo – Mubasher: The Egyptian Petroleum Projects and Technical Consultations Company (PETROJET) will be working on petroleum and refining projects in Equatorial Guinea for the first time, as per agreements signed during day two of the Egypt Petroleum Show (EGYPS 2020).

A memorandum of understanding (MoU) was signed by the Chairman and Managing Director of Petrojet Waleed Lotfy, and the Guinean Minister of Mines and Hydrocarbons, Gabriel Mbega Obiang, in the presence of Tarek El-Molla, the Egyptian Minister of Petroleum and Mineral Resources.

Petrojet signed a related agreement with the Arab Contractors Company to cooperate in projects in Equatorial Guinea.

Moreover, the Egyptian Minister of Petroleum Tarek El-Molla signed an agreement with his Somalian counterpart Abdulrashid Mohamed Ahmed to enhance the cooperation between the two countries in the petroleum and mining industries.

Additionally, Egypt’s Ministry of Petroleum signed an agreement with Shell to cooperate in training young calibers and middle managers, in line with the Egyptian petroleum sector modernization project.

Another agreement signed by the Egyptian Ministry of Petroleum and Mineral Resources was with the United States Trade and Development Agency (USTDA) to enhance cooperation in developing the sector and its infrastructure. USTDA vowed to continue providing training programs and opportunities in human resources, consultations, energy efficiency and other areas.

Similarly, the Egyptian General Petroleum Corporation (EGPC) and Chile’s National Petroleum Company (ENAP) inked an agreement to share the experience in the fields of hydrocarbons exploration and production, especially in unconventional reservoirs, as well as health and safety practices and standards.

EGPC also signed a cooperation agreement in the field of marine supply with BP to collaborate with local companies, as part of efforts to transform Egypt into a regional energy hub, given its strategic location as the centre of major global maritime shipping lines, led by the Suez Canal, the petroleum ministry said in a statement.

Meanwhile, Chevron signed two agreement with EGPC and Alexandria Mineral Oils Company (AMOC) to cooperate on a commercial and technical basis in the fields of refining crude oil and distributing petroleum products.

Several agreements were signed on the sidelines of the first day of EGYPS 2020, led by an agreement between ECHEM and Bechtel to work on a $6.7 billion refinery and petrochemicals complex in the Suez Canal Economic Zone (SCZE).

In a meeting with El-Molla earlier today, Brendan Bechtel, chairman and CEO of the Bechtel Group, expressed the company’s interest in a refining and petrochemicals complex in the Red Sea. The US-based company signed two cooperation agreements with Petrojet and Enppi.

It is worth noting that more than 30,000 visitors, 1,600 delegates, 270 speakers, and 450 exhibitors are expected during the fourth edition of Egypt Petroleum Show (EGYPS), held on 11-13 February at the Egypt International Exhibition Center (EIEC).